With the hopes to get some relief from income tax, the common man waited for the Union Budget 2022. Yesterday, the wait was over but the hopes remain unfulfilled. The budget was called by many big leaders as ‘Zero Budget’ for the common man.
via:theeconomictimes
But, that’s not true as whatever was mentioned in the parliament yesterday will have a direct impact on every Indian’s pocket. A few items got a hike in price whereas others provide some relief to customers due to the change in customs duty.
Read the full list to know the new price change in the market.
10 Things That Will Be Expensive From Now On
Union Budget 2022 raises tax imposed on imports and exports which will increase the price of certain goods such as:
via:thenewyorktimes
1. Umbrella, custom duty on these products raised up to 20%
2. Headphones and Earphones, these items will be expensive in the upcoming days as custom duty raised from 15-20% on them
3. Another product that gets costlier is single and multiple loudspeaker sets
4. Unblended fuel is also on the list due to an increase of Rs2/liter in excise duty. The new price will be applicable from 1st October
5. Smart meters also come in imported items thus they also see a hike in cost
6. X-Ray machines
7. Solar Modules
8. Solar Cells
9. Electronic Toys can be expensive too as their parts are usually imported from other countries
10. Edible oils
Also Read: Union Budget 2022: Major Announcement From Tax Return Policy to Blockchain, Read Everything Here
10 Things That Got Cheaper In Union Budget 2022
While a few products will cost you more, the new customs duty will make these 10 products cheaper.
via:weddingwire
1. Artificial jewelry as custom duty on cut and polished diamonds is reduced by 5%
2. Pistachios
3. Soft Dates
4. Imported fruits like lemons, oranges, fresh grapes, pears, and quinces
5. Spices like pepper and clove also see a reduced price due to a reduction of 30% in import duty. It was earlier 70% on these spices
6. Import duty on cashew nuts is cut to 2.5%
7. Cocoa beans
8. Broadband internet
9. Mobile phones and laptops
10. Dog and cat food
However, there will be no immediate change in the price of these items. The effect will be applicable from May 1, 2022.